Finland Current Account February 2016


Finland: Current account returns to surplus in February

April 15, 2016

The current account posted a EUR 145 million surplus in February, according to Statistics Finland. This result contrasted the EUR 85 million deficit recorded in the same month last year as well as the EUR 113 million deficit recorded in January.

The trade balance registered a surplus of EUR 160 million in February, marking a turnaround over the EUR 113 million deficit recorded in January. On an annual basis, exports fell 2.6% in February, which followed the previous month’s deeper 9.3% contraction. Imports decreased 6.0%, coming in slightly above from February’s 7.1% fall.

In the 12 months up to February, the current account balance recorded a EUR 500 million surplus. The figure exceeded January’s EUR 200 million surplus and represented the highest accumulated current account reading in three months.

FocusEconomics Consensus Forecast panelists expect the current account deficit to reach 0.1% of GDP in 2016, which is unchanged from last month’s projection. For 2017, the current account is expected to register a surplus of 0.5% of GDP.

Author: Teresa Kersting, Economist

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Finland Current Account Chart

Finland Current Account February 2016

Note: Monthly and 12-month current account balance in EUR billion.
Source: Statistics Finland.

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